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P&G SEEKS BUYERS FOR JIF, CRISCO

(April 25, 2001) -- Procter & Gamble Co. made official today what had been widely speculated for months: The company wants to divest its Jif peanut butter and Crisco shortening and oil brands.

P&G said it will consider swaps, sale or "alternate offers" for the brands, which President-CEO A.G. Lafley said are no longer a strategic fit for P&G but "represent a significant business opportunity for the right buyer."

Both brands have leadership positions but in categories that are flat to declining -- and they're North American brands with under $400 million in sales each in a company that wants to focus on global brands with $1 billion or more in sales. See the full story. -- Jack Neff